The Lacuna Project

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Exhibit 767

Abnormal returns from joining Congress? Evidence from new members

Exhibit 767 ยท Peer-reviewed study

Abnormal returns from joining Congress? Evidence from new members

However, these abnormal returns only accrue to those who serve on powerful committees.

Compares politicians' portfolios before and after election, 2004-2010. Finds weak and inconsistent evidence before election and abnormal returns only for members on powerful committees after two consecutive terms. States that the pre-STOCK Act data imply no wrongdoing.

Source
Hall, Karadas and Schlosky, Journal of Financial Economic Policy 9(4):450-474
Date
November 2017
Quoted from
Abstract (RePEc copy)
Grade
Peer-reviewed
Document
https://doi.org/10.1108/JFEP-12-2016-0095
Accessed
2026-11-09
Cited by
Findings citing this exhibit

Cited by

Finding POL-4.9
Peer-reviewed Karadas (2019) and Hall, Karadas and Schlosky (2017) found abnormal returns in members' trades in 2004-2010 concentrated among powerful members, and Karadas and Huang and Xuan (2018, a working paper on 2010-2013) found them absent after the 2012 Act.